Groupe la Francaise Sells 13,833 Shares of Arm Holdings PLC Sponsored ADR $ARM

Key Points

• Groupe la Francaise reduced its ARM stake by 33% in the second quarter, selling 13,833 shares and retaining 28,120 shares valued at approximately $9.97 million.
• ARM reported stronger-than-expected quarterly results, with EPS of $0.45 versus the $0.40 consensus and revenue of $1.29 billion, up 22.4% year over year.
• ARM shares opened at $252.09, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $305.12; CFO Jason Child also sold 10,400 shares under a pre-arranged trading plan.

Groupe la Francaise cut its stake in shares of Arm Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 33.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,120 shares of the company's stock after selling 13,833 shares during the period. Groupe la Francaise's holdings in ARM were worth $9,973,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ARM. Mcguire Capital Advisors Inc. purchased a new stake in shares of ARM in the fourth quarter valued at about $30,000. Syntax Research Inc. purchased a new position in ARM during the first quarter worth about $30,000. Evelyn Partners Investment Management Services Ltd purchased a new position in ARM during the first quarter worth about $30,000. Navalign LLC bought a new stake in ARM in the 4th quarter worth about $33,000. Finally, FWL Investment Management LLC bought a new stake in ARM in the 2nd quarter worth about $34,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ARM news, CFO Jason Child sold 10,400 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $255.33, for a total value of $2,655,432.00. Following the completion of the sale, the chief financial officer directly owned 163,832 shares of the company's stock, valued at $41,831,224.56. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARM Price Performance

ARM opened at $252.09 on Monday. Arm Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70. The company's 50-day moving average price is $273.23 and its two-hundred day moving average price is $238.91. The stock has a market cap of $269.25 billion, a price-to-earnings ratio of 259.89, a PEG ratio of 7.47 and a beta of 3.89.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. ARM had a net margin of 20.25% and a return on equity of 12.24%. ARM's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. As a group, sell-side analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $255.00 target price on shares of ARM in a research report on Thursday, July 30th. Mizuho upped their target price on ARM from $425.00 to $500.00 and gave the company an "outperform" rating in a report on Monday, June 8th. HSBC downgraded ARM from a "buy" rating to a "hold" rating and increased their price target for the company from $255.00 to $315.00 in a research report on Tuesday, July 14th. UBS Group cut their price objective on ARM from $360.00 to $320.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Finally, TD Cowen reduced their price objective on ARM from $475.00 to $350.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ARM currently has a consensus rating of "Moderate Buy" and an average price target of $305.12.

About ARM

Arm Holdings NASDAQ: ARM is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.

Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.

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